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Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 150
Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 150 units-50 from each of the last three purchases Dan. 1 Beginning inventory Mar 7 Purchase July 28 Purchas Oct. 3 Purchase Dec. 19 Purchase 96 units 220 units 544 units 480 units 160 units $2.00$192 $2.25495 $2.50-1,360 $2.801,344 $2.90 464 Totals 1,500 units $3,855 Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round intermediate calculations and round your answers to 2 decimal places.) Ending Inventory ost of Sold (a) Specific identification (b) Weighted average c) FIFO (d) LIFO
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